The risk of international trade transactions occurs because of the risk of fluctuations in foreign currency exchange rates. Hedging derivatives is a part of risk management carried out by companies to overcome significant impacts on unexpected changes in the value of foreign currencies. The purpose of this study was to determine the effect of leverage, company size, growth opportunity and financial difficulties on hedging decisions. This research was conducted at manufacturing companies listed on the Indonesia Stock Exchange for the 2016-2018 period. This study has a total population of 420 and is calculated by purposive sampling in accordance with the criteria for a sample of 216 out of 140 companies observed. The results of this study indicate that there is no effect of leverage, growth opportunity and financial difficulties on hedging decisions, while firm size has an effect on hedging decisions.